Dorman Products Inc. (DORM) filed Annual Report for the period ended 2010-12-25.
Dorman Products Inc. has a market cap of $610.8 million; its shares were traded at around $34.26 with a P/E ratio of 13.5 and P/S ratio of 1.3. Dorman Products Inc. had an annual average earning growth of 12.5% over the past 10 years.Hedge Fund Gurus that owns DORM: Jim Simons of Renaissance Technologies LLC. Mutual Fund and Other Gurus that owns DORM: Chuck Royce of Royce& Associates.
This is the annual revenues and earnings per share of DORM over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of DORM.
Highlight of Business Operations:
We are a supplier of automotive replacement parts and fasteners and service line products primarily for the automotive aftermarket. We market approximately 122,000 different automotive replacement parts (including brake parts), fasteners and service line products. Approximately 21% of our parts are comprised of parts and fasteners that were original equipment dealer exclusive items at the time of their introduction. Original equipment dealer exclusive parts are those which were traditionally available to consumers only from original equipment manufacturers or salvage yards and include, among other parts, intake manifolds, exhaust manifolds, oil cooler lines, window regulators, radiator fan assemblies, power steering pulleys and harmonic balancers. Fasteners include such items as oil drain plugs and wheel lug nuts. These dealer exclusive parts represent 66% of our net sales for the year ended December 25, 2010. Approximately 85% of our products are sold under our brand names and the remainder is sold for resale under customers private labels, other brands or in bulk. Our products are sold primarily in the United States through automotive aftermarket retailers (such as AutoZone, Advance Auto, and OReilly), national, regional and local warehouse distributors (such as Carquest and NAPA) and specialty markets and salvage yards. Through our Scan-Tech subsidiary, we are increasing our international distribution of automotive replacement parts, with sales into Europe, the Middle East and Asia. We are increasing distribution of automotive replacement parts in Canada through our Dorman Canada business unit.
We currently service more than 2,800 active accounts. During 2010, four customers (AutoZone, Advance Auto, OReilly and Genuine Parts Co.) each accounted for more than 10% and in the aggregate accounted for 55% of net sales. During 2009 and 2008, three customers (AutoZone, Advance Auto, and OReilly) each accounted for more than 10% of net sales and in the aggregate accounted for 39% and 40% of net sales, respectively.
Substantially all of our products are manufactured to our specifications by third parties. Because numerous contract manufacturers are available to manufacture our products, we are not dependent upon the services of any one contract manufacturer or any small group of them. No one manufacturer supplies more than 10% of our products. In 2010, as a percentage of our total dollar volume of purchases, approximately 24% of our products were purchased from various suppliers throughout the United States and the balance of our products were purchased directly from vendors in a variety of foreign countries.
A significant percentage of our sales has been, and will continue to be, concentrated among a relatively small number of customers. During 2010, four customers (AutoZone, Advance Auto, OReilly and Genuine Parts Co.) each accounted for more than 10% of net sales and in the aggregate accounted for 55% of net sales. During 2009 and 2008, three customers (AutoZone, Advance Auto, and OReilly) each accounted for more than 10% of net sales and in the aggregate accounted for 39% and 40% of net sales, respectively. We anticipate that this concentration of sales among customers will continue in the future. The loss of a significant customer or a substantial decrease in sales to such a customer could have a material adverse effect on our sales and operating results.